Federal Flood Insurance Program Closed for Weeks

March 26, 2010

  • March 26, 2010 at 5:02 am
    Liberal Agent says:
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    Agreed, it’d be great if they could work together.

  • March 26, 2010 at 5:03 am
    caffiend says:
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    I think we all need to write our elected representatives and express our outrage and discontent with the situation. For them to let a program that is required by so many lapse for 2+ weeks is near criminal. Also I can near guarantee that it’ll take more then 2 weeks to correct.

    Heres a site to help you locate your senator http://www.senate.gov/general/contact_information/senators_cfm.cfm

  • March 26, 2010 at 6:18 am
    Backlash says:
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    Sorry Liberal Agent..2 Trillion Dollars has been added to the Federal Defecit in the last year…more than any year in the history of the US….4 times more than Bush added in his entire presidency. If that’s not bad enough this Congress is running-up the National Mastercard so fast that by 2020 Social Security, Medicare and Debt Service could account for most of the entire US Budget. This isn’t a Colburn issue…it’s about a national financial crisis happening right before our eyes and take this to the bank…by the time this president and Congress are through we won’t have enough to buy an paper clips let alone fund flood insurance.

  • March 26, 2010 at 6:30 am
    Liberal Agent says:
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    Well I thought I left this discussion on a high note, but that doesn’t seem to be the case. Repubs had eight years to drive this country and its worldwide reputation into the ground, so I apologize that you don’t like the way the Dems are cleaning up your mess. Remember TARP came from Bush not Obama.

    And by the way, how about a little compassion for the folks who are going to lose their flood insurance?

  • March 26, 2010 at 6:38 am
    NOFLOOD says:
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    FEMA pay’s the insurance industry $ .71 cents of every dollar in premiums it collects.

    One Congressman called the NFIP “the worse federal program he has ever seen”.

    The NFIP has paid out only $11.6 billion dollars in claims since 1978.

    The NFIP owes the US Treasury 20 billion dollar.

    FEMA has been unwilling to correct bad data used in new flood maps.
    The NFIP puts the burden on the tax payers to correct bad data used for this new insurance maps.

    Let’s stop this waste.

    Let’s help balance the budget.

    Let’s cut this wasteful federal program.

    Tell your Congressman and Senators not to fund the NFIP.

    Stop the National Flood Insurance Program.

  • March 26, 2010 at 6:51 am
    DS says:
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    Ok Backlash, I’m sure A LOT of the 2 trillion added this year can be attributed to continuing the wars Bush started and left unfinished.

    Just saying.

    “Sorry Liberal Agent..2 Trillion Dollars has been added to the Federal Defecit in the last year…more than any year in the history of the US….4 times more than Bush added in his entire presidency.”

  • March 27, 2010 at 5:18 am
    freemarket says:
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    Yes the P&C companies can underwrite and price these risks. However, the politicians and regulators would never tolerate the premiums that would have to be charged. Just like they can’t make people stop building homes in flood zones!

  • March 28, 2010 at 1:57 am
    ANON THE MOUSE says:
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    Too many Deals have been made between professional politicians jockying for reelection positions. View this like it really is and see them as jockying for unemployment in November.

  • March 29, 2010 at 7:59 am
    Ratemaker says:
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    See, it’s not that the P&C carriers CAN’T write their own flood policies or AREN’T ALLOWED to.

    It’s that they (we) DON’T WANT TO!

    The private market considers flood to be an uninsurable peril, due to non-independence of the exposure and extreme adverse selection issues.

    In layman’s terms, the only one who wanted it were the highest risks, and when anyone had a loss, they ALL had a loss.

    NFIP was not so much a takeover as it was a response to unavailability of flood coverage.

  • March 29, 2010 at 10:40 am
    Dave says:
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    And the you liberals had problems with Bush’s defecits until Obama stepped in. When he jacked it up to unimaginable heights, you now criticize the Repubs for doing the same thing you were doing. Talk about hypocrisy.



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